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Aegon Life iTerm Comfort vs SUD Life Protect Shield Plus

OVERALL RATING
How we score
beshak-icon star
3
beshak-icon star
1.5
01 Claims Experience
3.78
1.4
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
100%
88.65%
% of Complaints received on overall claims
% customers unhappy with claims experience
0.17%
0.34%
How complex is the Claim Form?
The longer, the more hassles during claims
Short
Moderately Long
+ Show 8 more
02 Customer Service
2.4
3.7
Response time on Toll-Free BETA
How long does it take for the caller to connect with an customer service agent over toll-free?
Average
Quick
Response time on Twitter BETA
How quickly does a user get a response on complaint Tweets?
Slow
Average
% of Complaints received for after-sales service
% customers unhappy with after-sales service
1.67%
1.07%
03 product benefits
2
1.1
Increasing Cover
Cover starts increasing from
cross red
cross red
How much can the cover increase every year?
cross red
cross red
Cover can increase up to
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cross red
Claim Payout Customization
Options for claim payout
Options available to customize claim payment to your nominee
One time payout option
One time payout option
Premium Payment Customizations
Payment modes available to pay the premium
Frequency in which you can pay premium - monthly, yearly installments?
Monthly, Half Yearly, Yearly
Monthly, Quarterly, Half Yearly, Yearly
Options to pay off premiums before maturity age
Types of Limited pay options available
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5, 7, 10, 12, 15 Years
+ Show 5 more
Notes

1- Beshak Ratings data was last updated in September 2023.

2- All data was sourced from public disclosures (FY 2023-2024, Q1 and FY 2022-23, Q4), insurer websites, and the IRDAI website. Except Claim Amount Settlement Ratio, for which the data was taken from the IRDAI Annual Report 2021-22.

3- Only features that are currently available for purchase online were considered when calculating the Beshak Ratings.

4- In the Premium Ratings, we do not display premium amounts - instead, we show the product's relative pricing compared to the median.

5- Premium for all plans is calculated for the following profile: 30-year-old, non-smoker, married male, for a sum assured of INR 1 Crore, up to the age of 65 years, paying annual premiums, till the end of the policy. Except for these plans:

  ・Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c - Premium is calculated for a 30-year-old, non-smoker, married male, having Type 2 diabetes, with HbA1c level between 6.5 to 7, for a sum assured of INR 1 Crore, up to the age of 55 years, paying annual premiums for 25 years. 

  ・IndiaFirstLife Guaranteed Protection Plus Plan - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 1 Crore, up to the age of 75 years, paying annual premiums for 40 years. 

  ・TATA AIA Maha Raksha Supreme - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 2 Crore, up to the age of 65 years, paying annual premiums, till the end of the policy. 

6- The overall ratings do not include the premium rating. This is because we believe that the affordability of premiums is a personal thing. Something that seems unaffordable or expensive to one person could seem cheap and affordable to another, regardless of their income. We leave it up to our users to decide whether the price they pay seems reasonable for the features they receive.

7- The Response time on Twitter (Beta) was calculated using a sample set of tweets from February to August 2023 - (Analyzed in September 2023).

8- Claims Experience was assessed based on an audit of various processes and facilities offered by the insurers, during claim settlement.

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Compare Aegon Life iTerm Comfort and SUD Life Protect Shield Plus

Claims Track Record:

Aegon Life iTerm Comfort

Aegon Life Insurance Company has settled 100% of claims in under 30 days. It has a short claim form and offers online tracking of claims. Furtherm it has a claim settlement ratio of 99.37% and a claim amount settlement ratio of 98.76%. It is important to note, however, that the insurer does not offer home pick-up of claims and dedicated toll-free for claims service. And, customers will not be able to receive the benefit of a personal relationship manager for claims. And, the insurer has also received a higher number of claim-related claims compared to other insurers.

SUD Life Protect Shield Plus

SUD Life Insurance Company has settled 88.65% of claims within 30 days and they have a higher number of claim-related complaints. Their claim settlement ratio is 96.07%, while the claim amount settlement ratio stands at approximately 91.41%. They offer the convenience of online claim tracking and a dedicated toll-free helpline for claims. However, SUD Life Insurance Company does not provide a personal relationship manager for claims and home pick-up service for claims documentation. It also has a moderately lengthy claim form.

Service Experience:

Aegon Life iTerm Comfort

Aegon Life Insurance Company offers customer support via their toll-free number and Twitter. However, during our research, we found that their Twitter response rate was slow and their toll-free service was average, compared to other insurers. You and your family may face difficulties getting prompt assistance from the service team throughout the policy tenure.

SUD Life Protect Shield Plus

You can reach out to SUD Life Insurance Company through their toll-free telephone number or Twitter. Our research suggests that the response rate on Twitter is average and the toll-free number is fast, compared to other insurers. So, you or your family can contact their toll-free number to get the necessary help promptly.

Product Benefits:

Aegon Life iTerm Comfort

The Aegon Life iTerm Comfort Term Insurance Plan provides a range of options for customization. However, it does not offer the option of increasing your cover. The Aegon Life iTerm Comfort Term Plan offers a life cover of up to the age of 70 years with no Limited Pay options available. You can pay premiums monthly, half-yearly, and yearly. The plan only offers claim payouts as one-time lump sum payment. Additional coverage can be obtained through riders that are available with the Aegon Life iTerm Comfort Term Plan. These riders include a Critical Illness Rider, an Accidental Death Benefit Rider, and a Waiver of Premium Rider for Critical Illness.

SUD Life Protect Shield Plus

SUD Life Protect Shield Plus provides a range of customization options. It offers coverage up to the age of 70, with limited payment options, including 5, 7, 10, 12, and 15 years. You can pay premiums monthly, quarterly, half-yearly, or annually. It offers the payout as a one-time lump sum. It's important to note that this policy does not come with an increasing cover feature and does not offer additional riders. 

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